Nine Energy Service Inc NINE

EnergyOil & Gas Related Equipment and ServicesUnited States of America

Last close 7.84 USD on Nov 1, 2026, −4.4% year to date

Quant rating

Quant rating D Rank 124 of 167 in Energy

Growth D 127 of 167
Valuation C 74 of 167
Quality B 46 of 167
Revisions D 134 of 167
Momentum D 146 of 167

Wall Street consensus Buy (2.00)Average target 12.00 USD +53.1%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 109M
Enterprise value: 192M
52-week range: 7.32 – 13.20
3-year range: 7.32 – 13.20
Dividend yield: –
Beta (5 years): –
Shares outstanding: 13.9M
Next earnings: Nov 9, 2026

About the company

Nine Energy Service, Inc. is an oilfield services company that offers completion solutions within North America and abroad. The Company partners with its exploration and production (E&P) customers to design and deploy downhole solutions and technology to prepare horizontal, multistage wells for production. The Company provides its comprehensive completion solutions across a diverse set of well-types, including on the complex, technically demanding unconventional wells. It offers a variety of completion applications and technologies to match customer needs across the broadest addressable completions market. Its comprehensive well solutions range from cementing the well at the initial stages of completion, preparing the well for stimulation, isolating all the stages of an extended reach lateral, and the drilling out of isolation tools. The Company provides services integral to the completion of unconventional wells through a range of tools and methodologies.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	562	554	610	593	349	–
Revenue growth	1.4%	−9.1%	2.7%	69.8%	12.4%	12.6%
EPS (basic, normalized)	–	−1.11	−0.90	0.46	−2.66	–
EPS growth	–	–	–	–	–	–
Gross margin	16.8%	17.6%	19.5%	23.0%	11.9%	17.7%
Net margin	−9.1%	−7.4%	−5.3%	2.4%	−18.5%	−7.6%
ROE	–	–	–	–	–	–

Balance sheet, last quarter
Cash & short-term investments (mil)	16.8
Current ratio	2.34x
Long-term debt (mil)	97.3
Net debt (mil)	82.1
Total equity (mil)	130
Net debt / equity	0.63x
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	562	+1.4%	0.3x	–	–	–	–	–	–
2026	505	−10.1%	0.4x	33.5	–	5.7x	4.98	–	1.6x
2027	596	+18.1%	0.3x	54.0	+61.2%	3.5x	0.65	−87.0%	12.2x
2028	632	+5.9%	0.3x	55.0	+1.9%	3.5x	–	–	–

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	505	0.0%	−1.4%	+22.3%	4.98	0.0%	0.0%	–
2027	596	0.0%	−0.1%	+7.7%	0.65	0.0%	−6.5%	–
2028	632	0.0%	0.0%	+10.6%	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	FQ-3	FQ-2	Mar 2026	Jun 2026
Sales reported (mil)	142	132	138	141	150	147	132	132	130	142
Sales mean (mil)	142	134	135	135	149	144	–	–	–	142
Surprise	+0.2%	−1.2%	+2.6%	+5.0%	+0.8%	+2.5%	–	–	–	0.0%
EPS reported	−0.24	−0.39	−0.25	−0.22	−0.18	−0.25	–	–	2.65	−0.35
EPS mean	−0.32	−0.37	−0.30	−0.24	−0.15	−0.22	–	–	–	−0.11
Surprise	+25.0%	−5.4%	+16.7%	+8.3%	−20.0%	−13.6%	–	–	–	−218.2%

Peer comparison Oil & Gas Related Equipment and Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
NINE Nine Energy Service Inc	109M	–	−9.1%	0.84x	1.6x	12.2x	5.7x	3.5x
SLB SLB N.V.	79.3B	1.29x	9.4%	3.04x	21.9x	17.4x	11.2x	9.8x
BKR Baker Hughes Company	54.8B	2.75x	9.3%	2.72x	21.4x	18.9x	13.0x	11.3x
HAL Halliburton Company	29.9B	1.27x	5.8%	2.69x	15.5x	12.4x	8.8x	7.6x
SEI Solaris Energy Infrastructure, Inc.	5.7B	7.70x	4.6%	5.77x	44.4x	22.0x	16.9x	8.5x
INVX Innovex International Inc	2.0B	−0.87x	8.5%	1.76x	17.7x	16.0x	8.8x	7.3x
Mean		2.43x	4.8%	2.80x	20.4x	16.5x	10.7x	8.0x
Median		1.29x	7.1%	2.71x	19.5x	16.7x	10.0x	8.1x

Technical analysis

1M−5.9%
3M−31.2%
1Y−4.4%
3Y−4.4%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Nine Energy Service Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	562	554	610	593	349	311
Cost of revenue	467	457	491	457	308	302
Gross profit	94.6	97.4	119	136	41.4	8.7
Selling, general & administrative expenses	59.7	51.3	59.8	51.7	45.3	49.3
Research & development	–	–	–	–	–	–
Depreciation/amortization	34.4	36.8	40.7	40.2	45.0	48.9
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	−1.9	0.4	0.7	−2.0	−16.5	256
Other operating expenses	0	0	0	0	0	0
Operating income	2.3	8.9	17.6	46.4	−32.4	−345
Net interest income (expense)	−54.5	−50.5	−49.8	−32.2	−32.5	−36.1
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0.7	0.6	0.6	0.7	0.3	0.1
Net income before taxes	−51.5	−40.9	−31.6	14.9	−64.6	−381
Provision for taxes	−0.2	0.2	0.6	0.5	0	−2.5
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−51.3	−41.1	−32.2	14.4	−64.6	−379
Extraordinary items	–	–	–	–	–	–
Net income	−51.3	−41.1	−32.2	14.4	−64.6	−379
EBIT, normalized	8.0	10.0	26.8	47.9	−45.5	−84.6
EBITDA, normalized	42.3	46.8	67.5	88.1	−0.5	−35.7
Basic EPS, normalized	–	−1.11	−0.90	0.46	−2.66	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Nine Energy Service Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	18.4	27.9	30.8	17.4	21.5	68.9
Receivables	76.0	81.4	88.9	106	65.4	42.6
Total inventory	56.6	50.8	54.5	62.0	42.2	38.4
Prepaid expenses	13.5	10.0	9.4	11.2	10.2	16.3
Other current assets	4.3	0.4	0	0	0	0
Total current assets	169	170	184	197	139	166
Property, plant & equipment	98.4	108	124	127	124	141
Goodwill	–	–	–	–	–	0
Intangibles	68.1	79.2	90.4	102	116	133
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	4.2	2.6	3.4	1.6	2.4	3.3
Total assets	339	360	402	427	382	443
Liabilities
Accounts payable	43.6	36.1	33.4	42.2	28.7	18.1
Payable/accrued	–	–	–	–	–	–
Accrued expenses	41.2	41.9	46.5	36.3	24.6	23.3
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	6.3	3.6	2.9	2.4	3.2	1.9
Other current liabilities	0.4	0	0	0	0	0
Total current liabilities	91.4	81.5	82.8	81.0	56.5	43.4
Long-term debt	342	317	321	338	332	344
Minority interest	–	–	–	–	–	–
Other liabilities	21.4	27.3	34.3	31.3	32.0	35.0
Total liabilities	454	426	438	450	421	422
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0.4	0.4	0.4	0.3	0.3	0.3
Additional paid-in capital	808	806	795	775	773	768
Retained earnings (accumulated deficit)	−919	−867	−826	−794	−808	−744
Treasury stock	–	–	–	–	–	–
Other equity	−5.2	−5.4	−4.9	−4.8	−4.5	−4.5
Total equity	−115	−66.1	−35.6	−23.5	−39.3	20.4
Total liabilities & shareholders' equity	339	360	402	427	382	443

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Nine Energy Service Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−51.3	−41.1	−32.2	14.4	−64.6	−379
Depreciation, depletion & amortization	34.4	36.8	40.7	40.2	45.0	48.9
Deferred taxes	–	–	–	–	0	−1.6
Non-cash items	31.5	26.4	25.5	15.4	4.1	289
Changes in working capital	−21.8	−8.9	11.6	−53.4	−25.0	37.2
Cash from operations	−7.3	13.2	45.5	16.7	−40.4	−4.9
Investing activities
Capital expenditures	−15.9	−14.8	−24.6	−28.6	−15.4	−9.4
Other investing cash flows	2.4	0.6	1.4	3.1	3.5	7.6
Cash from investing	−13.6	−14.2	−23.2	−25.4	−11.9	−1.8
Financing activities
Financing cash flow items	−4.8	−0.6	−6.7	−1.0	−0.6	−1.5
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	17.6	−1.1	−2.2	5.8	5.7	−15.8
Cash from financing	12.9	−1.7	−8.9	4.8	5.0	−17.4
Foreign exchange effects	0	−0.3	−0.1	−0.2	−0.1	−0.1
Net change in cash	−8.0	−3.0	13.4	−4.1	−47.4	−24.1
Free cash flow	−23.3	−1.6	20.9	−11.9	−55.8	−14.3

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.